Week of August 28th, 2006

It's time once again for economics editor Chris Farrell to help you sort out what's smart, what's stupid and what's the Straight Story. This week, The Census Bureau released its annual report on wages, poverty and health insurance. Chris reads between the lines.

On this week's A Day in the Work Life, our look at how folks trade their time for money, we go to the head of the class with a substitute teacher.

Life is hard enough without having to decipher everything. Each week, Marketplace Money brings you a word or a phrase that has bubbled to the top of the news. For instance: Labor Day. You hear it, you see it, but do you really know it?

Our economics editor Chris Farrell answers your burning money questions. This week, advice on: using a health savings account, investing assets from a housing sale, and lowering retirement investments.

Retirees have spoken, and they're moving overseas to spend their golden years. If you decide to take your retirement abroad, how much should you save? And where should you look? Tess talks with Brent Kessel of Kubera Portfolios.

Seniors are living longer and the cost of elder care is rising. There are long-term care policies that lower the costs of nursing homes and assisted living centers. But are they worth the price? Nancy Farghalli reports.

First it was Dell. Then came Apple. Both companies have issued recalls for potentially explosive batteries used in their laptop computers. But is their loss the consumer's gain? CNET's Tom Merrit explains.

The grass is always greener in the next cubicle. Still, odds are even your colleague shares similar frustration — job satisfaction is on the decline. What can employers do to reverse the trend? Dr. Carolyn Martin talks with Tess.

The government said today that construction spending fell 1.2 percent in July — the biggest drop in five years. The main reason: home building is down. So we're at the point of asking, will housing take down the whole economy?

Many rank-and-file members of the AFL-CIO question why their union is pushing for legalization for undocumented day laborers. But proponents say the move is a sign of things to come. Rachel Dornhelm reports.

Some entrepreneurs have come up with New York's latest cottage industry — iPod repair shops. Adam Allington reports.

In its fight against hate crimes and child porn, Brazil's government wants Google to turn over information on users of its Orkut website. Google says no. Janet Babin reports.

With a partial recount due next week, it seems certain that conservative presidential candidate Felipe Calderon will take office. His opponent, Andres Manuel Lopez Obrador, has vowed to create a parallel government. Dan Grech reports.

Attendees to a series of immigrant rights marches in Chicago this weekend will find out that Miller Brewing is a sponsor. From Chicago Public Radio, Mike Rhee has the story.

Commentator and humorist Tim Bedore says journalists are always swallowing the spin that politicians put on economic news. So he's coming up with his own "No-Spin Zone."

Put away the beach towel and the picnic basket. Summer is over. But that doesn't mean your vacation has to end. Amy Scott reports on the tricks to getting more time off.

There's a new breed of parking meter out there — but beware, it's designed to squeeze more money out of motorists. Stuart Cohen has the story.

Mexican president Vicente Fox delivers his final State of the Union address tonight. Franc Contreras examines the economic legacy Fox will leave his successor.

Jobless figures were expected to remain unchanged. Ashley Milne-Tyte reports the numbers will likely vindicate the Fed's decision to hold interest rates steady.

The company that makes James Bond's favorite car is up for sale. Ford is selling Aston Martin. From London, Stephen Beard reports.

The latest jobs numbers are in and itseems employers are still hiring at a decent pace — with exceptions in a couple industries. Scott Tong reports.

As many of us head into a long Labor Day weekend, commentator Joe Robinson points out that fun and relaxation can't be considered items on a to-do list.

Will the latest round of sales incentives from U.S. automakers do much to revive slumping sales? Janet Babin reports.

This installment of the Job Files looks at the life of a burlesque dancer.

California today introduces a new blend of diesel fuel formulated to burn more cleanly. But as Sarah Gardner reports, it comes at a price.

Marketplace Money for September 1, 2006

California passed the nation's first global warming legislation yesterday to cut the amount of greenhouse gases emitted in the state. Host Scott Jagow speaks to Daniel Kammen from UC Berkeley about what it means for businesses.

Known for its dirt-cheap fares, Ryanair has announced it will allow cell phone use on all flights starting next year. And the airline doesn't really care if some passengers don't like it. Stephen Beard reports.

The proverbial "American Dream" has it that anyone can achieve a better life through hard work and determination. But writer and commentator Clive Crook argues that meritocracy has long been dead in this country.

About half of children in the U.S. rely on buses to get to school. So a new company in Massachusetts is hoping to convert that daily commute into a lucrative marketing scheme. Producer Ian Gray brings us the story.

Consumer spending in August jumped to its highest point in six months. But a barometer that's predicted four of the last five recessions says we're firmly in the midst one. What's really going on? Bob Moon reports.

The latest fighting between Israel and Hezbollah has sent many Lebanese fleeing the country to seek a better life abroad — and they're not just white-collar professionals. Ben Gilbert reports.

UPS has reached a new contract deal with its cargo plane pilots. The terms include higher hourly pay and a better healthcare package, making UPS's fliers some of the best-paid around. Nancy Marshall-Genzer reports.

Washington is the nation's largest apple producer, and growers there are facing a labor shortage. Not enough workers to get the fruit off the trees. It could mean trouble for the billion-dollar industry. Jason Paur reports.

Publisher Beverly McKenna of New Orleans' African American newspaper talks about the challenges of coming back after Katrina.

Major retailers report their August sales figures today. Nancy Marshall Genzer tells us what to expect.

The former head of the Anglo-Dutch oil giant Shell is off the hook. Sir Philip Watts and two other executives will not be prosecuted for overstating the company's oil and gas reserves. Stephen Beard reports.

Host Brian Watt and business of sports expert David Carter look at the legacy of Andre Agassi, both as tennis star and marketing icon.

Clorox and Coke don't mix. Not at the bar, at least. But in the upper levels of the corporate world, they look real nice on a resume. Dan Grech reports.

A bill lands on the desk of California Gov. Arnold Schwarzenegger today requiring the Golden State to reduce greenhouse gas emissions to 1990 levels by 2020. Jeff Tyler reports.

Discount financial services provider H&R Block will report its quarterly earnings today. In the minus column: a $102 million loss for its home-lending business. Bob Moon reports.

The low-cost carrier is one of the healthiest airlines fiscally, but it likely still needs to cut costs. Starting Friday it can amend its contract with pilots, but the talks may go smoothly. Steve Tripoli reports.

The founder of Wikipedia is looking for ways to make the model profitable. Host Scott Jagow talks to Fortune magazine writer Adam Lashinsky about the plans for Wikia.

Gov. Schwarzenegger vetoed a bill earlier this week that would have made zinfandel the "historic wine" of California. Host Scott Jagow asks W. Blake Gray, wine editor at the San Francisco Chronicle, about the decision.

Manhattan's iconic Stuyvesant Town and Peter Cooper Village are to be auctioned off in one of the biggest real estate deals in history. Ashley Milne-Tyte reports.

Portland, Ore. is throwing all its weight into the fight against global warming by promising to run on 100% renewable energy starting next year. Mitchell Hartman reports.

The Lebanese government today says it'll pay $33,000 for each house damaged by the war. The announcement came more than a week after Hezbollah started its own handout to displaced citizens. Stephen Beard reports.

A phone-security company bought 10 cell phones off eBay to test its security software — and found a lot of sensitive information that their former owners thought they'd erased. Janet Babin reports.

As schools are getting back in session, commentator Glenn Hubbard argues that more training, not education, is the ticket to success in the new global economy.

Three months of demonstrations in Oaxaca, Mexico have brought the tourist town's economy to a standstill. Yesterday, even business owners went on strike to demand an end to the chaos. Dan Grech reports.

The Senate takes its immigration field hearing tour to Colorado today to examine the impact of illegal immigration on state and federal budgets. Scott Tong reports.

The International Monetary Fund is giving itself a makeover and one of the expected changes would give China more influence and voting power. And the Bush Administration is among those pushing for the change. Scott Tong tells us why.

A year ago, Hurricane Katrina's 30-foot storm surge essentially wiped the town of Waveland, Mississippi off the map. Dan Grech revisits the Coast Inn and Suites to check in on its reconstruction.

Starbucks is planning a big marketing push to get consumers to drink its . . . coffee? Jason Paur explains.

A new report says an increasing number of married couples have become "tag-team" parents, working different shifts to take turn watching the kids to help ends meet. Nancy Marshall Genzer reports.

A public hearing opens in Britain today to decide who will run the UK's first Vegas-style casino. Controversial US billionaire Philip Anschutz is the frontrunner. Stephen Beard has the story.

Dissident shareholders are preparing for a possible bid to put Bally Total Fitness on the sale block after years of disappointing revenue. Ashley Milne-Tyte reports.

Commentator Robert Reich argues that despite all the rebuilding efforts a year after Hurricane Katrina, little has been done to help New Orleans' displaced poor.

Altria, the parent company of Kraft Foods and cigarette-maker Philip Morris, is under pressure from shareholders to separate the two companies. Janet Babin reports.

The Taiwanese company that manufactures Apple's iPod is suing two journalists for $3.5 million for writing that it had poor working conditions in its factory. And the journalists' assets have been frozen, Jocelyn Ford reports.

The Feds have launched yet another investigation into BP, this time for manipulating oil and gas prices. Just two months ago, the oil giant was found guilty for manipulating the propane market. Hillary Wicai reports.

The Census Bureau released its annual report on wages, poverty and health insurance today. The number of uninsured Americans has gone up again, and many see that as evidence the system isn't working. Helen Palmer reports.

Steven Smith of American RadioWorks returns to the rebuilt city of Biloxi, Mississippi and finds a very different economy — and not everyone can afford to live in the new Biloxi.

China's economic boom is built on the backs of 180 million farmers who've flocked to cities. Exploitation of this labor force has been widespread, but in recent years migrant workers have been getting a louder voice. Jocelyn Ford reports.

Commentator Ed Glaeser says one way to remove the bureaucratic red tape that's held up rebuilding efforts in the Gulf Coast is to distribute all of the relief money directly to the people affected.

The College Board released results showing the largest drop in SAT scores in 30 years. The test was longer the say. But critics argue that the drop exposes fundamental problems with the testing business itself. Steve Tripoli reports.

A disgruntled engineer at Lockheed Martin went on YouTube.com to expose a series of security flaws in a $24 billion contract won by his company. Jeff Tyler reports.

Business historian John Steele Gordon says public officials overseeing reconstruction of the Gulf Coast should heed the lessons of the Great London Fire of 1666.

With Tropical Storm Ernesto bearing down on Florida, Dan Grech looks at the economic impact when a region holds its breath in advance of a potentially devastating storm.

One year after Hurricane Katrina slammed the Gulf Coast, Stephen Smith looks at how the pace of reconstruction can differ . . . even in the same family.

New data show the rate of bankruptcy filings has plummeted. But Ashley Milne-Tyte reports that the numbers could be misleading.

The Census Bureau releases its latest study on wage and poverty trends today. Helen Palmer reports that while the economy has grown, some research shows the poverty rate has risen.

Given growing demand, the aircraft maker sees nearly $73 billion in sales to India by 2026. Jason Paur reports.

The British oil giant is now reported to be under federal investigation for allegedly manipulating the oil and gasoline markets. Stephen Beard reports.

Those weeks when your TV gets taken over by campaign commercials are just around the corner. Today the Federal Election Commission will look at easing restrictions on when interest groups can run ads. Hillary Wicai reports.Marketplace's Hillary Wicai reports.

It's back to '80s, at least when it comes to corporate mergers. A New York Times report says these big deals may mean a lot of insider trading. Host Scott Jagow speaks to Columbia University professor John Coffee.

During WWII, the Pittsburgh Steelers and Philadelphia Eagles fielded a team together for a season: the Steagles. Host Scott Jagow speaks to author Matthew Algeo about how the combined team helped keep the NFL going at a critical time.

Electric utility Entergy serves the Gulf Coast from Texas to Mississippi. Last year's hurricanes took out a huge chunk of the grid and destroyed nearly $2 billion in equipment. Can they repair in one year what it took decades to build? Dan Grech reports.

The Federal Election Commission could make a major change to the nation's campaign finance laws that would change the way political ads are funded. Scott Tong reports.

Venezuela's energy minister said today that China will invest $5 billion on Venezuela's oil infrastructure. That mirrors a worldwide trend as China taps more oil from foreign sources. Jeff Tyler reports.

The search engine giant is out with yet another new product and this one's going after a market where Microsoft is currently king. Can Google Apps lure away small to mid-size businesses? Janet Babin checks it out.

Tomorrow is the first anniversary of Hurricane Katrina's landfall on the coast of Louisiana. Commentator Marcellus Andrews argues that the human suffering after the storm shows the major flaws in our economic system.

Ten years ago executive Richard Kinder left Enron and formed a pipeline company. Today the billionaire CEO is leading a buyout effort to take the publicly traded firm private. Scott Tong reports.

The Census Bureau will release its latest snapshot of poverty, income and health insurance tomorrow. The numbers without health insurance are expected to rise sharply. Helen Palmer reports.

A senior central banker from Britain has criticized the way the US Federal Reserve measures inflation. He says it's a mistake to strip the price of energy out of the inflation figures. Stephen Beard reports.

A New York City college has received a $2 million grant to help students master the etiquette of the business world. Amelia Templeton reports.

A survey of economists out today shows growing concern that terrorism could slow US economic growth. Ashley Milne-Tyte reports.

China's getting a new bankruptcy law that will help it move closer to a market economy, but it won't be welcomed by workers. Jocelyn Ford explains.

Companies that insure insurers could see major windfalls from post-Katrina rate adjustments. Sarah Gardner reports

The Internet search giant has so many of its assets tied up in securities that government regulators have categorized it a mutual fund. Jason Paur explains.

After Hurricane Katrina, New Orleans' power company took pains to take care of its workforce. One year later, that loyalty is paying off. Dan Grech has the story.

Some New Orleans businesses that survived Hurricane Katrina may not make it through Louisiana's long, hot summer. Bill Zeeble reports.